Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0614%/8h= −67.3% APRpaid last 24h −0.033%

Price spread now: Bitget against Arcus+0.061%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$500.496% of the position

Long on Arcus Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.109%−$11 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.061%, 7d avg +0.015%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.045% dearer against Arcus than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of +0.015%): +$5 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 4 days (−0.109% in total) that is about 37 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.109% in total (about -10.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NBIS-USD	230.67	0.0040	pay 0.0005% / 1h	14m 31s	$42K	$132K	5x
Short	Bitget NBISUSDT	230.81	−0.0574	pay 0.0574% / 8h	1h 14m	$2.3M	$4.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Arcus. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ArcusbpFee BitgetbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$129
Price spread: +0.061% → +0.015%: $4.53
Slippage, 4 orders: −$33.1
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$174.07
Costs to cover: 0.496%
Break-even: never at this rate

Slippage from Arcus: live order book, 28 min ago; Bitget: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Arcus live order book, 28 min ago	4.12 bp	9.2 bp −$9	17.3 bp −$173	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.38 bp	13.7 bp −$14	27.3 bp −$273	43.2 bp −$4,319	doesn't fit

NBIS on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NBISUSDTshort	−0.0574%	8h	230.81	+0.061%	$2.3M	$4.5M	20x
Aster NBISUSDT	0.0000%	8h	230.63	−0.019%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.63	−0.016%	$149K	$635K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.65	−0.009%	$18.5M	$87.4M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.64	−0.013%	$4.9M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.48	−0.082%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.78	+0.048%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.80	+0.056%	$2.8M	$599K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.86	+0.082%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.76	+0.039%	$967	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.03	+0.156%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.84	+0.074%	$1.6M	$964K	10x	as long as short
BloFin NBIS-USDT	+0.0014%	8h	230.79	+0.052%	$203K	$205K	20x	as long as short
Arcus NBIS-USDlong	+0.0040%	1h	230.67	long leg	$42K	$132K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	230.70	+0.013%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.56	−0.048%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.74	+0.030%	$115	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.92	+0.108%	$151K	$543K	10x	as long as short
Nado NBIS-PERP	+0.0055%	1h	230.62	−0.021%	$37K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.62	−0.022%	$1.5M	$3.8M	10x	as long as short
tradeXYZ xyz:NBIS	+0.0071%	1h	230.56	−0.048%	$54.2M	$21.0M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0097%	1h	230.70	+0.013%	$34K	$49K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.69	+0.009%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.75	+0.035%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.71	+0.017%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.39	−0.121%	$351K	$812K	10x	as long as short
Lighter NBIS	+0.0184%	1h	230.70	+0.013%	$954K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.85	+0.078%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0345%	1h	230.75	+0.035%	$10.1M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0345%	4h	230.91	+0.103%	$37K	$227K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0685%	1h	230.65	−0.007%	$23K	$15K	20x	as long as short